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In the era of global integration, Vietnam is welcoming more and more foreign residents to immigrate. This not only promotes economic and tourism development but also contributes to making the real estate industry more dynamic. 

In Vietnam, housing ownership by foreigners is permitted

In compliance with the rules of the Housing Law and related legal instruments, foreign organizations and individuals invest in housing construction projects in Vietnam.
Foreign organizations are businesses operating in Vietnam that have foreign bank branches, foreign investment funds, and foreign investment capital.
Vietnam grants permits to foreigners to enter the country.
 

Vietnamese home ownership practices for foreign persons and organizations

• putting money into housing projects' construction.
• ownership of real estate, including single-family homes, villas, and apartments, acquired through purchases, sales, gifts, or inheritance.

Note that Vietnamese law prohibits foreigners from owning residential real estate related to national defense and political security. Furthermore, foreigners are prohibited from purchasing land or homes in residential zones and are only permitted to own residences with built-in infrastructure.

Conditions for foreign organizations and individuals to own housing in Vietnam

• In case a foreign organization or individual invests in building housing under a project in Vietnam, it is necessary to have an Investment Certificate and have a house built in the project according to the provisions of Vietnam Housing Law. , relevant laws.
   
• For enterprises with foreign investment capital; branches and representative offices of foreign enterprises; foreign investment funds; and foreign bank branches operating in Vietnam must have an Investment Certificate or documents related to being allowed to operate in Vietnam;
   
• For foreign individuals allowed to enter Vietnam, they must enter Vietnam and are not eligible for diplomatic or consular privileges and immunities.

Procedures for buying a house for foreigners in Vietnam

When buying a house, foreigners need to go through the following steps:

Step 1: Make a contract. The contract needs to fully describe the content, including the full names of both buyers and sellers. Full description of housing type and land use. For apartment buildings, it is necessary to clearly state the construction floor area, common ownership and private ownership. Payment term and handover time. The contract also needs to have the rights and obligations of both parties. If necessary, other terms and agreements may be recorded. Signing term and validity period of the contract.

Step 2: Notarize and authenticate the contract. This is an important step to verify the contract value and be recognized by law.

Step 3: Submit application for Certificate. The two parties can agree on which party will be the one to apply for a certificate from the competent authority for that real estate.

Thus, foreigners can only buy houses in Vietnam if they fully meet the conditions specified in the 2014 Housing Law. This is a policy to promote integration and help diversify the real estate market. about customers. Foreigners who want to buy a house in Vietnam can refer to legal consulting locations for better support.